EC rejects pressure to speed up equivalence process
Senior European Commission member defends the timescale of equivalence decisions, saying third-country regulators prefer "legal certainty" to speed
The European Commission's head of financial infrastructure, Patrick Pearson, has hit back at criticism that the process has been too slow and not transparent enough.
The commission rubber-stamped its first set of central counterparty (CCP) regulatory regimes to gain third-country equivalence at the end of October, in the form of Asian jurisdictions Australia, Hong Kong, Japan and Singapore.
Just days before the commission's decision, Masamichi Kono, vice-commissioner for international affairs at
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